An analysis of institutional short sales

• Main Authors: SOO ROA YIEN, 蘇若衍
• Other Authors: 王韻怡
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/46507728619474275703

碩士 === 逢甲大學 === 財務金融學系碩士班 === 101 === The thesis explores the effect of institutional investor apply to borrow securities. And also inspects that the securities borrowing effect by past return and the liquidity. In addition, institutional investor applies to borrow securities prefer the short sales of underlying stocks with poor past performance and adopted by the momentum strategy. Moreover, it is concluded that the thesis uses the short interest ratio forecast next three months to one year cumulative returns, which reveal the institutional investors are informed traders have the information advantage.